AIMS allowed to issue bonus and right shares
Dhaka stocks on Wednesday lost only 8.67 points as a quiet price correction on the bourse continued for the straight third day, market operators said.
The benchmark general index of Dhaka Stock Exchange shed 0.10 per cent to close at 7,931.61 points on the day. The index lost 25.49 points in three days.
Salahuddin Ahmed Khan, who teaches finance at Dhaka University, said the market saw corrections for the last three days because of profit taking selling after a record-breaking surge. ‘It is positive for the market.’
Investors sold off their holdings in the state-owned enterprises for the straight second day in anticipation of a fall in the prices of the SoEs’ shares following a government move of offloading more stakes in eight listed enterprises, said a DSE stockbroker.
Banks also witnessed fall in their share prices after a significant rise in the previous day, he added.
The broader DSE all share price index fell by 6.02 points, or 0.09 per cent, to close at 6.596.59 points on Wednesday.
Out of the total 246 issue traded on the DSE, 143 advanced, 99 declaimed and four remained unchanged.
The daily turnover at the bourse was Tk 2,193.29 crore, down by Tk 287.12 crore from the precious trading day.
Peoples Leasing and Financial Services topped the turnover leaders with 38.21 lakh shares valued at Tk 111.53 crore traded on the day.
The other turnover leaders were Titas Gas, NCC Bank, Beximco, Confident Cement, AB Bank, Shahjalal Islami Bank, DESCO, Southeast Bank and Premier Bank.
Safko Spinning was the day’s biggest gainer, posting a 14.66-per cent rise in its share prices while Libra Infusions was the worst loser on the day.
The Securities and Exchange Commission, meanwhile, gave permission to AIMS First Mutual Fund on Wednesday to apply for issuing bonus and rights shares.
The commission decided not to appeal against a High Court verdict announced on October 5 declaring SEC’s refusal to allow AIMS to issue bonus and rights shares illegal, SEC executive director Anwarul Kabir Bhuiyan said on Wednesday after a commission meeting.
